Oman's MPM Directs Asian Term Buyers To Discontinue Spot Crude Sales
In a telex sent to Far East term buyers on 19 May, Oman's Ministry ofPetroleum and Minerals (MPM) has directed its term-contract holders that - as acondition for renewal of their term contracts - they must discontinue all spotmarket sales of Omani export blend crude oil. Although there are signs that thetrend may be reversing, Oman crude has been under considerable downward pricepressure in...
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